For those who pay attention to eBay because it is a source of revenue, this ought to be interesting information. It will also be somewhat of a stop gap for me as I write here because I’ve gotten a bit behind.
“EBay Inc. reported Wednesday a third-quarter net loss of more than $936 million — a rare plunge into the red for the e-commerce juggernaut caused by charges to its Skype telecommunications division.
But San Jose-based eBay still easily exceeded Wall Street’s expectations for the quarter ended Sept. 30, thanks to record revenue of $1.89 billion, up 30 percent from the year-ago quarter.”
How did eBay generate record revenue?
“Executives credited record revenue at the PayPal electronic payment division, and brisk sales outside of the United States and at ticket broker StubHub.com.”
Oh, and a small “thing” called a “write-down.”
“Early this month, eBay announced it would take a $900 million write-down in the value of Skype. That impairment charge essentially acknowledged that eBay executives drastically overvalued the $2.6 billion Skype acquisition, completed in October 2005.”
Its really better than it looks;
“EBay stock closed Wednesday at $40.60, up $2 or 5 percent. The stock has surged 43 percent in the past year. In after-hours trading, after the quarterly results were announced, it gained another 75 cents.”
I hope to return to my writings and studies of The Master Key System tomorrow… stay tuned.Tags: ebay_inc, paypal, stubhub, wall_street
POSTED IN: Web Happenings